Vietnam's Timo raises USD 20 mln

Wednesday 5 January 2022 12:42 CET | News

Vietnam's digital bank Timo has secured USD 20 million in a fresh funding led by Square Peg.
Other participants are Jungle Ventures, Granite Oak, FinAccel, Phoenix Holdings (existing investor), and other super angels. Established in 2015, Timo is one of Vietnam's digital banks. In 2019, the bank announced a strategic partnership with Viet Capital Bank, accelerating its growth.

Timo - which stands for Time and Money – has emphasized customer-centricity at its core. The company offers eKYC services. Operating in a country where banking adoption rate is still relatively low, this helps customers save time during on-boarding and allows them to access other banking services online faster through its platform.

More recently, the company has been accelerating its vision of social banking, recognising that banking and financial services are embedded in a broader context.

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Keywords: funding, digital banking, online banking, eKYC
Categories: Banking & Fintech
Companies: Square Peg, Timo
Countries: Vietnam
This article is part of category

Banking & Fintech

Square Peg



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